1120
AL RAJHI BANK A very golden buying opportunityHi, according to my analysis of Al-Rajhi Bank stock. There is a very good buying opportunity. The stock rebounded from a very strong area, which is the support at the 70 level. It also broke the bearish flag with a very positive green candle. It means a strong entry for buyers. good luck for everbody
ALRAJHI BANK 1120 still in downtrend!1year of correction still going strong..
we might see a pullback to 87 at most than heading to 61.8 which is act as a support.
the main support entry which I recommend to wait for 49-55 levels..
Now, I see a little swing trade with a maximum STOPLOSS at 66 and targeting 80 levels.
if there is a weekly close under 69.1 we might see 61.8 shortly be careful!
1120: Al Rajhi (Bullish setup)Falling Wedge Pattern
Watchout for Breakout
Retracement from Golden Pocket considering Rally from Covid-19 and retracement
HH, HL formation until top of falling wedge Resistance
Bulls need to take control for further ride and breakout
Entry at current level (Aggressive) or Watch for Breakout
Stop Loss is specified
Fib/Horizontal support Levels are specified for TPs
Ride the trend and Trail your stop loss
Manage your risk properly
AL RAJHI BANK: And the show goes on The 15th of February , TADAWUL:1120 has broken above a key level (153.2) with huge bullish momentum ,
which triggered a sudden spike to around the 170 .
After the quick spike ,price pulled back down to the 150.5-155.5 area which is an ideal buy zone with strong demand . Actually price is very likely to go up to the 179-180.5 area ,with the possibility to break above the 179-180.5 area and continue to the 195-200 area .
For position management it is recommended to apply Jesse Livermore's method to this trade :
Open 2 positions with the same Stop set in the red area .The first position's target is set at the 1st target area .The second position's target is set at the 2nd target area .When the first position reaches the 1st target area and closes , it is recommended to move the stop loss to the entry price for the second position targeting the 2nd target area .
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Ranging For NowIts been in a range for so many weeks now, interesting part is its consolidating right near the resistance area that is around 150.00 if this rectangle breaks to the upside this would be a good buy chance. For now its in a no trading zone lets wait for the breakout candle.
Hit like & follow guys ;)